Solutions

Islamic Banking

Finacle Islamic banking solution offers an integrated and comprehensive approach for banks to define and present Shariah-compliant products to customers. Strong product definition features, support for Islamic accounting and complete traceability for audit differentiate the solution. Completely self-contained, it is replete with the accounting backbone to support back office functionalities and provides straight through processing (STP) capabilities on a SOA platform.

A single solution built on the standard technology infrastructure available for conventional banking; the Finacle Islamic
banking solution addresses both Islamic banking and international needs. Developed with incisive insight into the Middle East, Far East and European markets, the solution is truly geared to address region-specific Islamic banking requirements.

Key modules

Islamic asset products

Islamic liability products

Mudarabah pool management and profit sharing

Hijri calendar

Business benefits

Differentiated product spread

The Finacle Islamic banking solution offers a flexible and varied feature repertoire for banks to design and deploy products for varying market segments, based on different Islamic concepts including Mudarabah, Murabaha, Ijarah, Istisna and Tawarruq. The solution also offers a wide range of possibilities for business users at the bank to create products and embellish them with innovative features.

Lowered total cost of ownership (TCO)

The solution’s custom-definable watertight modules address both international and Islamic banking needs. This empowers banks with the flexibility to define and change the organization structure, offering Islamic banking as an add-on product at a branch of choice, and then converting it to an independent Islamic banking unit, if required. Proven scalability and robust performance for both conventional and Islamic banking are assured. All of this results in significantly lowered TCO for the bank.

Greater process efficiency

The solution is powered by the BPEL and BPML compliant workflow engine. This, coupled with high parameterization capabilities, results in greater process efficiency, better risk mitigation and supports rapid roll out of Shariah-compliant products.